Loan & DebtMay 28, 2026, 04:41 PM
Woodward Secures $1.25B in New Credit Facilities
AI Summary
Woodward, Inc. entered into new credit agreements on May 28, 2026, securing a total of $1.25 billion in financing. This includes a Third Amended and Restated Revolving Credit Agreement for up to $1 billion, extending its maturity to May 28, 2031, and a new $250 million Term Loan Credit Agreement, also maturing on May 28, 2031. The company utilized $413 million from the revolving loan and cash to repay outstanding obligations under the previous agreement and borrowed the full $250 million term loan for working capital and general corporate purposes.
Key Highlights
- Secured new Third Amended and Restated Revolving Credit Agreement.
- Revolving credit facility provides up to $1,000,000,000 in loans.
- Revolving loan commitments extended from October 2027 to May 28, 2031.
- Borrowed $413 million from revolving loans to repay existing obligations.
- Secured new Term Loan Credit Agreement for $250,000,000.
- Term loan facility matures on May 28, 2031.
- Interest rates for both facilities range from SOFR + 0.875% to 1.75%.
Price Impact
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